Pending home sales edged up 0.6 percent in August, as declining mortgage rates made home purchases more affordable, according to data released Thursday by the National Association of Realtors. Continue reading
While many homeowners rushed to refinance, affordability is keeping a damper on sales. Now mortgage rates are climbing again, with investors having already priced in last week’s Fed rate cut. Continue reading
In August, nearly half of all U.S. homes had been on the market for 60 days or more, according to Redfin. Days on market has ticked up as high rates have slowed sales. Continue reading
New-home sales rose 9.8 percent year over year to a seasonally adjusted annual rate of 716,000 in August. However, an influx of existing-home inventory could pose a challenge to new-home sales into the fall. Continue reading
It will take more than recent rate cuts for a recovery in home sales to gain traction, a new analysis of market data and economic forecasts suggests. Intel explores what’s at stake for the fall market. Continue reading
Falling mortgage rates should help boost home sales by nearly 10 percent next year, but in the meantime, inventory shortages and affordability challenges are keeping a lid on sales in many markets. Continue reading
Fed easing was already priced into mortgage rates, but there’s room for more relief if investors who fund most home loans get less skittish about prepayment risk and quantitative tightening. Continue reading
Existing-home sales fell 4.2 percent year over year to a seasonally adjusted rate of 3.86 million in August as buyers awaited the Fed’s decision to cut rates, according to National Association of Realtors data Continue reading
Central bank policymakers drop short-term rates by 1/2 percentage point and signal more cuts ahead, but much of the impact may already be priced in to mortgage rates. Continue reading
Lenders have gotten into the habit of helping some homebuyers avoid jumbo loans by raising their limits before an official announcement by Fannie Mae and Freddie Mac’s federal regulator. Continue reading